Zedcor (CVE:ZDC) Shares Down 16.3% – What’s Next?

Shares of Zedcor Inc. (CVE:ZDC) dropped 16.3% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares changed hands during mid-day trading, an increase of 205% from the average daily volume of 1,402,575 shares. The stock had previously closed at C$5.71.

Zedcor News Roundup

Here are the key news stories impacting Zedcor this week:

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Wall Street Analysts Forecast Growth

ZDC has been the subject of several recent analyst reports. Desjardins set a C$7.50 price objective on Zedcor and gave the company a “buy” rating in a report on Thursday, October 23rd. National Bankshares upped their price target on shares of Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Ventum Financial set a C$8.70 price target on shares of Zedcor and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, Zedcor currently has an average rating of “Buy” and an average price target of C$7.54.

Zedcor Price Performance

The business has a fifty day moving average of C$5.99 and a two-hundred day moving average of C$5.14. The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14. The firm has a market capitalization of C$576.37 million, a price-to-earnings ratio of 273.00 and a beta of 1.21.

Insiders Place Their Bets

In other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the transaction, the director directly owned 15,400,000 shares in the company, valued at C$100,100,000. The trade was a 6.10% decrease in their ownership of the stock. Also, Director Dean Myles Shillington sold 2,000,000 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of C$6.45, for a total transaction of C$12,900,000.00. Following the completion of the transaction, the director directly owned 744,905 shares in the company, valued at C$4,804,637.25. The trade was a 72.86% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 4,501,800 shares of company stock valued at $28,785,530. Company insiders own 30.15% of the company’s stock.

Zedcor Company Profile

Zedcor Inc provides technology-based security and surveillance services in Canada. It engages in the provision of rental, service, and remote monitoring of its proprietary MobileyeZ security towers; surveillance and monitoring of fixed site locations; and security personnel. The company also engages in mobile and fixed surveillance, security guards, access control, and sensor related technology services. It serves customers in the construction, mining, oil and gas, pipeline and facilities, office, commercial, retail, industrial manufacturing, warehouse, and automotive sectors.